How to deal with the accounts of prepaid value-added tax of property companies?

When handling the accounts of prepaid value-added tax, property companies generally conduct accounting through taxes payable-payable value-added tax account, taxes payable-unpaid value-added tax account. How to deal with relevant accounts?

How do property companies pay VAT in advance?

Pay the value-added tax of the current month, and make direct input payment:

Borrow: Taxes payable-VAT payable (taxes paid)

Loans: bank deposits

If it is the value-added tax of last month, the output tax payable by the lender will be transferred to the unpaid value-added tax at the end of the period, indicating that there is still unpaid value-added tax in that month:

Borrow: Taxes payable-VAT payable (transfer-out unpaid VAT)

Loan: Taxes payable-VAT unpaid

When actually paid, it will be transferred to the detailed account of tax paid:

Borrow: Taxes payable-VAT payable (taxes paid)

Loans: bank deposits

Taxes payable-VAT payable is a secondary subject of taxes payable, and taxes payable is a liability subject, so taxes payable-VAT payable is also a liability subject. In the liability column of the balance sheet. Taxes payable-VAT payable is divided into many items in the general taxpayer's account, and the enterprise needs to choose the corresponding third-level account for accounting according to the actual business.

Accounting treatment of property company's payment of utilities

If the property company is profitable when collecting and remitting electricity charges, then:

1. When paying the electricity fee of the power company:

Debit: main business cost

Taxes payable-VAT payable-input tax.

Loans: bank deposits

2. When charging the owner's electricity fee:

Borrow: Cash on hand or bank deposit.

Loan: income from main business

Taxes payable-VAT payable-output tax